By Deshotel                                            H.B. No. 130
         77R640 CAS-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to notice concerning certain unclaimed property.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1. The heading to Subchapter A, Chapter 74, Property
 1-5     Code, is amended to read as follows:
 1-6                SUBCHAPTER A. APPLICABILITY; NOTICE BY HOLDER
 1-7           SECTION 2. Section 74.001(a), Property Code, is amended to
 1-8     read as follows:
 1-9           Sec. 74.001.  APPLICABILITY. (a)  Except as provided by
1-10     Subsection (b), this chapter applies to:
1-11                 (1)  a holder of property that is presumed abandoned
1-12     under Chapter 72, Chapter 73, or Chapter 75; and
1-13                 (2)  a holder of property about which notice must be
1-14     given under Section 74.0011.
1-15           SECTION 3. Subchapter A, Chapter 74, Property Code, is
1-16     amended by adding Section 74.0011 to read as follows:
1-17           Sec. 74.0011.  NOTICE BY HOLDER. (a)  Not earlier than one
1-18     year or later than six months before the date property would be
1-19     presumed abandoned under Chapter 72, 73, or 75, the holder of the
1-20     property shall mail notice as prescribed by Subsection (b) to each
1-21     person who, from the records of the holder,  appears to be  the
1-22     owner of or otherwise entitled to the property.
1-23           (b)  The notice required by Subsection (a) must include:
1-24                 (1)  the name and address of the holder; and
 2-1                 (2)  the information required under Sections
 2-2     74.101(c)(2)-(4).
 2-3           SECTION 4. The heading to Subchapter C, Chapter 74, is
 2-4     amended to read as follows:
 2-5                    SUBCHAPTER C.  NOTICE BY COMPTROLLER
 2-6           SECTION 5. This Act takes effect September 1, 2001, and
 2-7     applies only to property that would be presumed abandoned under
 2-8     Chapter 72, 73, or 75, Property Code, on or after September 1,
 2-9     2002. Property that would be presumed abandoned under Chapter 72,
2-10     73, or 75, Property Code, before September 1, 2002, is covered by
2-11     Chapter 74, Property Code, as that chapter existed before amendment
2-12     by this Act, and that law is continued in effect for that purpose.